53,681 Shares in Electronic Arts Inc. $EA Bought by SEB Asset Management AB

Key Points

• SEB Asset Management AB opened a new position in Electronic Arts during the first quarter, buying 53,681 shares worth about $10.9 million.
• Electronic Arts remains heavily held by institutions, with 90.23% of shares owned by institutional investors and hedge funds.
• Wall Street sentiment is mixed but cautious: the stock has a consensus Hold rating and an average price target of $196.64, while shares recently traded near a 52-week high around $209.

SEB Asset Management AB acquired a new position in shares of Electronic Arts Inc. (NASDAQ:EA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,681 shares of the game software company's stock, valued at approximately $10,944,000.

A number of other large investors have also recently bought and sold shares of the company. Ascentis Independent Advisors bought a new stake in shares of Electronic Arts during the 1st quarter worth approximately $27,000. MV Capital Management Inc. bought a new stake in Electronic Arts during the fourth quarter worth $28,000. Asset Planning Inc bought a new position in shares of Electronic Arts in the 1st quarter valued at $32,000. Whipplewood Advisors LLC acquired a new position in shares of Electronic Arts during the 1st quarter worth $32,000. Finally, Fideuram Asset Management Ireland dac bought a new stake in shares of Electronic Arts during the 4th quarter worth $44,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EA has been the topic of a number of recent analyst reports. Argus cut Electronic Arts from a "buy" rating to a "hold" rating in a research report on Thursday, May 28th. Wall Street Zen raised shares of Electronic Arts to a "hold" rating in a report on Saturday, June 6th. Weiss Ratings upgraded shares of Electronic Arts from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, May 18th. Zacks Research downgraded shares of Electronic Arts from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Finally, Citigroup raised their target price on shares of Electronic Arts from $202.00 to $204.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $196.64.

Electronic Arts Stock Performance

Electronic Arts stock opened at $209.29 on Tuesday. The business has a 50 day moving average of $203.56 and a 200-day moving average of $202.66. Electronic Arts Inc. has a 1 year low of $146.97 and a 1 year high of $209.34. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $52.48 billion, a P/E ratio of 59.97, a P/E/G ratio of 2.34 and a beta of 0.64.

Electronic Arts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 27th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $0.76 annualized dividend and a yield of 0.4%. Electronic Arts's payout ratio is 21.78%.

Insider Activity

In other news, insider Vijayanthimala Singh sold 1,200 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $203.00, for a total transaction of $243,600.00. Following the completion of the sale, the insider owned 26,360 shares of the company's stock, valued at $5,351,080. This trade represents a 4.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Wilson sold 5,066 shares of Electronic Arts stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $201.66, for a total transaction of $1,021,609.56. Following the completion of the sale, the chief executive officer owned 85,974 shares of the company's stock, valued at $17,337,516.84. This represents a 5.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 31,206 shares of company stock worth $6,292,058. Company insiders own 0.24% of the company's stock.

Electronic Arts Profile

Electronic Arts Inc NASDAQ: EA is a global interactive entertainment company headquartered in Redwood City, California. Founded in 1982 by Trip Hawkins, EA develops, publishes and distributes video games and related content for a variety of platforms, including consoles, personal computers and mobile devices. The company combines in-house development, partnerships and studio acquisitions to create and maintain a portfolio of entertainment properties and live-service experiences for players worldwide.

EA's product lineup spans several well-known franchises and genres.

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